Onto Innovation Inc. (NYSE:ONTO) Stock Position Reduced by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,103 shares of the semiconductor company's stock after selling 20,639 shares during the quarter. New York State Common Retirement Fund owned approximately 0.22% of Onto Innovation worth $16,835,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. International Assets Investment Management LLC raised its stake in Onto Innovation by 14,819.4% in the 4th quarter. International Assets Investment Management LLC now owns 615,575 shares of the semiconductor company's stock valued at $94,121,000 after purchasing an additional 611,449 shares during the last quarter. Invesco Ltd. raised its stake in Onto Innovation by 113.7% in the 3rd quarter. Invesco Ltd. now owns 1,074,877 shares of the semiconductor company's stock valued at $137,068,000 after purchasing an additional 571,917 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Onto Innovation in the 3rd quarter valued at $34,678,000. Allspring Global Investments Holdings LLC raised its stake in Onto Innovation by 854.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 296,049 shares of the semiconductor company's stock valued at $45,266,000 after purchasing an additional 265,042 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Onto Innovation by 38.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 601,143 shares of the semiconductor company's stock valued at $76,658,000 after buying an additional 166,819 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Price Performance

Shares of NYSE:ONTO traded up $0.45 during midday trading on Monday, reaching $190.22. 372,478 shares of the company's stock were exchanged, compared to its average volume of 418,306. The firm's 50 day simple moving average is $182.23 and its two-hundred day simple moving average is $157.30. The stock has a market cap of $9.35 billion, a price-to-earnings ratio of 76.85 and a beta of 1.40. Onto Innovation Inc. has a fifty-two week low of $80.17 and a fifty-two week high of $199.72.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.07. The firm had revenue of $219.00 million during the quarter, compared to the consensus estimate of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The company's quarterly revenue was down 13.5% on a year-over-year basis. During the same period last year, the company earned $1.57 EPS. Equities research analysts predict that Onto Innovation Inc. will post 4.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on ONTO shares. B. Riley upped their target price on Onto Innovation from $195.00 to $205.00 and gave the company a "buy" rating in a report on Friday, February 9th. Stifel Nicolaus upped their target price on Onto Innovation from $188.00 to $215.00 and gave the company a "buy" rating in a report on Monday, March 25th. Benchmark upped their target price on Onto Innovation from $145.00 to $180.00 and gave the company a "buy" rating in a report on Friday, February 9th. Evercore ISI started coverage on Onto Innovation in a report on Tuesday, April 16th. They issued an "outperform" rating and a $235.00 target price for the company. Finally, StockNews.com upgraded Onto Innovation from a "sell" rating to a "hold" rating in a report on Monday, February 12th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Onto Innovation presently has an average rating of "Moderate Buy" and an average price target of $191.60.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, VP Yoon Ah Oh sold 1,685 shares of Onto Innovation stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $180.00, for a total value of $303,300.00. Following the completion of the transaction, the vice president now directly owns 14,913 shares of the company's stock, valued at approximately $2,684,340. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value of $7,019,200.00. Following the completion of the transaction, the chief executive officer now directly owns 235,492 shares of the company's stock, valued at approximately $41,324,136.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Yoon Ah Oh sold 1,685 shares of Onto Innovation stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $180.00, for a total value of $303,300.00. Following the completion of the transaction, the vice president now owns 14,913 shares of the company's stock, valued at approximately $2,684,340. The disclosure for this sale can be found here. Insiders sold a total of 47,170 shares of company stock valued at $8,266,955 in the last three months. 0.72% of the stock is owned by corporate insiders.

Onto Innovation Company Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.